ECON225 Unit 2 MakeUp Exam-PartII

Complete only the problems assigned by the instructor for retesting.

Problems 1- 4 worth 10 points each = 40 points total

VERY IMPORTANT: Submit your work when you complete this exam.

Tables and formula sheet can be found in "Useful Resources" Module. Scroll down in modules.

Note: this is a timed quiz. You may check the remaining time you have at any point while taking the quiz by pressing the keyboard combination SHIFT, ALT, and T... Again: SHIFT, ALT, and T...

Flag question: Question 1

Question 1

1pts

Problem 1:Probability Distribution and Expected Value

Answer Questions 1 -6(= 1a - 1f)10 points total

Problem 1 a - Type of Distribution:The table below shows the number of days in which work-related accidents occurred at the XYZ plant during the past year. What type of a distribution does this table illustrate?

(Classes)(Frequencies)

# Accidents# Days

0185

1102

255

312

411

Group of answer choices

Normal Distribution

Frequency Distribution

Binomial Distribution

Poisson Distribution

Flag question: Question 2

Question 2

2pts

Problem 1 b -Probability Distribution:Calculate aprobability distributionP(X) for the distribution shownbelow.Enter theprobability values for each respective classin the respective boxes in the P(X) column.(Round the probabilityvalues to 3-places after the decimal and enter in decimal formatrather thanas a %.i.e. Enter an answer as .123 rather than 12.3%.)

Formula:P(X)=# successes

total # outcomes=s

n

# Accidents

Classes

(X)

# Days

Frequencies

(f)

Probability

Distribution

P(X)

01851102255312411

Flag question: Question 3

Question 3

2pts

Problem 1c -Probability Distribution Graph:Which of the above graphs illustrates thehistogramfor this problem's probability distribution that was computed in the previous question?

Group of answer choices

Graph A

Graph B

Graph C

Graph D

Flag question: Question 4

Question 4

2pts

Problem 1 d -Probabilities:Referenceyour computed probability distributionin 1b (Question 2) of this Problem.

The probability that there will beat most 2 accidentson any given day is.

The probability that there will beat least 2 accidentson any given day is.

(Roundyour answers to 3-places after the decimal and enter in decimal format rather than as a %.)

Flag question: Question 5

Question 5

2pts

Problem 1 e -Expected Value:The expected value E(x) for the number of accidents on any given day is.(Enteryour answer to 2-places after the decimal.)

Formula:E(x) =

xp.

Flag question: Question 6

Question 6

1pts

Problem 1 f -Interpreting Expected Value:The insurance company providing the workmen's compensation coverage notified the plant management that premiums would need to increase if, on average, there wasmore than oneaccident per day. Based on the computed expected value E(x) in the previous question, should the plant management expect to see an increase in insurance premiums and why (or why not)?

Group of answer choices

No, because E(x) is greater than 1.

No, because E(x) is less than 1.

Yes, because E(x) is greater than 1.

Yes, because E(x) is less than 1.

Flag question: Question 7

Question 7

2pts

Problem 2:Normal DistributionAnswer Questions7 -10(= 2a - 2d)10 points total

Problem 2 Information:The averagetime ()required for Jill to drive toJackson(City J)is 210 minutes with astandard deviation(

)of 30 minutes. The average time () required to drive toMeridian(City M)is 240 minuteswith a standard deviation (

)of 50 minutes.Use this information to compute the answers for thetwo questions shown below.

Problem 2 a -Normal Distribution forCity J:Assuming anormal distribution, theprobabilitythatdriving toJackson(City J)willtakeJilllongerthan the averagetime it normally takes her to drive toMeridian(City M)is(round to 4-places after the decimal).

Thez-valueused for the requested probability computation is(round the z-value to 2-places afterthe decimal).

(Hint:You can view the normal curve diagram forJackson (City J)inthe next question.

Formula:Z = (X -

)

).

Flag question: Question 8

Question 8

3pts

Problem 2 b -Normal Distribution GraphforCity J:Referencing the above graphfor Jackson (City J) and your answers for the previous question, enter the correct numerical values for #1 - #5illustrated on the graph.(Enter the answers for#1 & #2 as whole numbers and the answers for #3 - #5 to 4-places after the decimal.)

City J Normal Curve

#1 Value:#2 Value:#3 Area:#4 Area:#5 Area:

Flag question: Question 9

Question 9

2pts

Problem 2 Information:The averagetime ()required for Jill to drive toJackson(City J)is 210 minutes with astandard deviation(

)of 30 minutes. The average time () required to drive toMeridian(City M)is 240 minuteswith a standard deviation (

)of 50 minutes.Use this information to compute the answers for thetwo questions shown below.

Problem 2 c -Normal Distribution forCity M:Assuming anormal distribution, the probability thatdriving toMeridian(City M)willtakeJillless timethan the averagetime it normally takes her to drive to Jackson (City J)is(round to 4-places after the decimal).

Thez-valueusedfor the requested probabilitycomputation is(round the z-value to 2-places after the decimal).

(Hint: You can view the normal curve diagram for Meridian (CityM) in following question.

Formula:Z = (X -

)

).

Flag question: Question 10

Question 10

3pts

Problem 2 d -Normal Distribution Graph forCity M:Referencing the above graphforMeridian(City M)and your answers for the previous question, enter the correct numerical values for #1 - #5illustrated on the graph.(Enter the answers for#1 & #2 as whole numbers and the answers for #3 - #5 to 4-places after the decimal.)

City M Normal Curve

#1 Value:#2 Value:#3 Area:#4 Area:#5 Area:

Flag question: Question 11

Question 11

5pts

Problem 3:Probability MatrixAnswer Questions 11 -12(= 3a - 3b)10 points total

Problem 3a - Probability Matrix:Enter the requested numerical values for theprobability matrixtotals and cells designated as letters A - F in the above table into the answer boxes shown below.

Probability Matrix ValuesTotal A:Total B:Cell C:Cell D:Cell E:Cell F:

Flag question: Question 12

Question 12

5pts

Problem3 b -Probability MatrixProbabilities:Referencing thecompleted Probability Matrixof the previous question,compute the following probabilities.(Enter your probability answers into the provided answer boxes.Round your answers to 2-places after the decimal and enterusing decimals rather than entering as a %.i.e. enter an answer as .13, not

as 12.5%).

Matrix ProbabilitiesP(S2

G2)

P(S1

G2)

(or both)

P(G1 / S3)

===P(G1

G3)P(S3 / G3)==

Flag question: Question 13

Question 13

5pts

Problem 4:Venn DiagramAnswer Questions 13 -14(= 4a - 4b)10 points total

Venn Diagram Information:The Board of Education polled the community for their opinions onthe name forsports teams at a new high school in the town.The resultswere as follows:18%liked the name "Bears"(B),30%liked the name "Wildcats"(W),10%liked the name "Eagles"(E),9%liked both "Bears" and "Wildcats",6%liked both "Bears" and "Eagles",5%liked "Wildcats" and "Eagles", and2%liked allthree names.

Problem4 a -Venn Diagram:Referencing the Venn Diagram and the percentages shown above, enter the percent probabilities for each of the diagram sections (#1 - #8) into the answer table below.(Enter answers to 2-places after the decimal rather than as a %.i.e. Enter .12 rather than 12%.)

Venn Diagram Section ProbabilitiesSection 1Section 2Section 3Section 4====Section 5Section 6Section 7Section 8====

Flag question: Question 14

Question 14

5pts

Problem4 b -Venn Diagram:Based on the completed Venn diagram in the previous question, determine the following five probabilities. (Enter the requested answers totwo places after the decimalsrather than as %.):

1. The probability that acommunity member will likeany of the three names, either the"Wildcats"(W)or"Bears"(B)orthe "Eagles"(E) is.
2. The probability that acommunity member willnotlike any of the three names is.
3. The probability that acommunity member will likeonlythe name "Eagles"is.
4. The probability that acommunity members will likeonlythe name"Bears" is.
5. The probability that acommunity memberwill like the name "Wildcats"given thattheylike the name "Bears"is.